What is a FEIN or EIN

What is a FEIN or EIN (Federal Tax ID Number) and which businesses should have an EIN?

A Federal Tax ID, also known as a Federal Employer Identification Number (FEIN or EIN), is a nine digit number.  It is a permanent number for your business which acts like an individual person’s social security number.  It is used for banking, tax filing, business identification, applying for business licenses, credit reporting, and other business purposes.  A business will be assigned one EIN which is valid in all states.  It can be used immediately, however, it may take up to two weeks before this number becomes part of the IRS’ permanent records.  You should apply early enough to have your EIN before you need to file a tax return or make a bank deposit.

You can apply online IRS EIN, or call the IRS Business & Specialty Tax Line at 800-829-4933.  To apply by fax or for other information please visit the website “How to Apply for an EIN” at http://www.irs.gov/businesses/small/article/0,,id=97860,00.html.

The FEIN or EIN is issued for the following entities:

Sole Proprietorships

Individuals / Small businesses

Limited Liability Companies (LLC)







And some other entities